Having crossed SIX million downloads and disbursed loans of over Rs 550 crore since inception, fintech start-up EarlySalary\u2019s next product focus will be on education and school fee loans. The Pune-based start-up is also investing in hospital cash product and is also building a cards programme with universal acceptance. Akshay Mehrotra, co-founder and CEO, EarlySalary said the start-up is currently disbursing Rs 80 crore a month and in this financial year it should be able to disburse nearly Rs 1,200 crore. EarlySalary has tied up with Amazon, Flipkart and Big Bazaar to offer customers the chance to buy products on EMI and has also entered into partnerships with over 200 large companies in the country to offer salary advances to their employees. \u201cWith our education and school fee product we have nearly 100 institutions and brands associated with us\u201d, he said. EarlySalary was founded in October 2015 by Mehrotra and Ashish Goyal and the app was launched in February 2016. Mehrotra claims that EarlySalary is India\u2019s largest tech enabled digital lender and fintech start-up which gives young salaried individuals a line of credit and instant cash loans. \u201cToday, we offer over 40,000 loans a month across product portfolios of 30 days, 3 months, 6 months and 12months in terms of instant loans, salary advances, EMIs to shop now and pay-later products on Amazon, Flipkart and Big Bazaar and school fee payment options on EMIs. Asked how the company was conceptualised, Mehrotra said that it all started with an aim to solve a very simple problem. Young people don\u2019t go on dates towards the end of the month due to cash crunch. \u201cAs we started to explore solutions for this problem, we noticed that the underlying problem was much larger. The only product financial institutions offered was a credit card which was meant for customers with high incomes and high credit score and there were no short-term credit options for young Indians.\u201d He said they have been able to solve many problems through EarlySalary which included credit to under-served young Indians with the help of alternate risk score beyond credit bureau scores. The start-up could offer real-time loans on a mobile app without human underwriting and most importantly, getting acceptance by companies as a financial wellness offering for their employees. The start-up has so far raised three rounds of funding worth Rs 135 crore ($23million) from EightRoads (Fidelity) Ventures, IDG Ventures India, DHFL & Transcorp. \u201cWe are in a business in which money is working capital and thus we are always raising equity or debt to leverage. Over the next 24 months we want to build a balance sheet of a few thousand crore of rupees, thus over time, we will raise a next round,\u201d he said. EarlySalary 2.0 got flagged off eight weeks back with a new mobile platform and with it, the start-up expanded the range of products it offers customers. Not only does the start-up offer instant short term loans of 7 days to 51 days but also offers EMI-based 3-month to 12-month personal loans on the platform. The firm had recently acquired a fintech start-up CashCare in the online EMI financing space.